Our second warning signal is an event which may change the incorrect views, and so the behaviour, of investors. Having a distorted view of the world and risk- having core periphery disease-opens up an investor to a sudden change in view. Calling something risk-free, for example, is a signal, not that it is risk-free three is no such thing, but that risk is not perceived. The presence of investor homogeneity makes such changes of view potentially more pretinent.